Stock-Split Watch: Is D-Wave Quantum (QBTS) Next?

From the spike in gold prices to fears that an artificial intelligence (AI) bubble has formed, there are a variety of topics on investors' minds right now. And if stock splits hadn't been something that they've been contemplating, perhaps the recent news from Booking Holdings that it's planning a 25-for-1 stock split brought the topic back to mind and motivated them to look for other potential stock split candidates.

D-Wave Quantum (NYSE: QBTS) stock, for example, has risen 2,690% over the past three years as of this writing. Between the quantum computing stock's exceptional performance and the continued attention investors are paying to it, many are wondering whether D-Wave Quantum stock will be included in an upcoming stock split.

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What are the catalysts for D-Wave Quantum stock's rise?

Debuting on public markets after the completion of a business combination with a special purpose acquisition company in August 2022, shares of D-Wave Quantum stock plunged over the subsequent two-year period. However, in December 2024, D-Wave Quantum reversed its downward trajectory when investors gained greater insight into the company. Its CEO, Dr. Alan Baratz, appeared on a Yahoo! Finance show. On the show, Baratz lauded the company's novel approach to quantum computing that is helping customers achieve better returns on their investments.

Another major catalyst for the stock's rise occurred in March 2025, when the company announced fiscal 2024 financial results. In addition to achieving a 128% year-over-year increase in bookings for fiscal 2024, D-Wave Quantum reported a 2024 gross profit that grew 20% from the previous year. Providing an auspicious outlook for the first quarter 2025, management projected revenue of $10 million -- a potentially substantial increase over the $2.5 million in sales it reported in the first quarter of 2024.

Don't be deluded about stock splits

Motivated to identify potential stock splits, many investors surmise that if they buy shares before a forward stock split, they would find themselves in a better financial position with a larger number of shares they would ultimately own than after the stock split.

Experienced investors, though, recognize the fallacy in this belief. Just as having 100 pennies doesn't make you any wealthier than holding a lone $1 bill, you wouldn't be in a more advantageous position owning more shares of a stock after a forward stock split than you would've been before the stock split.

So why would a company decide to split its stock?

Since splitting stocks doesn't leave investors in a more fortuitous financial position than before the split, it's fair to wonder why companies would choose to split their stocks at all. There are a few reasons, though most frequently it's because share prices have soared to levels that may impede some investors from buying a single share.

In light of this, investors who are evaluating D-Wave Quantum as a potential stock split candidate will probably determine that, since the stock's 52-week high is under $50 and the current price is under $20 as of this writing, it's highly unlikely that the company will proceed with a plan to execute a stock split anytime soon.

On the other hand, consider that Booking Holdings was valued at about $4,100 per share when management announced its plan to implement a stock split.

D-Wave Quantum likely won't split its stock

D-Wave Quantum stock has provided early investors with extraordinary returns, but it's clear that at this point, management likely won't choose to split the company's stock in the near future. While some may be disappointed with this realization, D-Wave Quantum still stands as one of the intriguing quantum computing stocks available to investors, and today provides a great opportunity to click the buy button with shares dipping more than 27% since the start of the year.

For those who find the stock's ups and downs unsettling, however, a more desirable route to industry exposure may be to invest in a quantum computing exchange-traded fund.

Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Booking Holdings. The Motley Fool has a disclosure policy.